Will Sugarmade Inc (OTCMKTS: SGMD) Continue To Move?

Sugarmade Inc (OTCMKTS: SGMD) is moving higher and trading almost at session’s high.

Market Action

As of 11.02, SGMD stock gained by 19.05% at $0.0025. More than 81 million shares have been traded hands.

SGMD Issues News

Sugarmade Closes Lemon Glow Acquisition, Gaining Cannabis Property Capable of 64 Tons of Cannabis Flower Production Per Annum

  • SGMD announced the signing of a Definitive Agreement (the “Agreement”) for its acquisition of Lemon Glow Company, Inc. (“Lemon Glow”) and all of its assets, interests, property, and rights, including 640 acres of real estate (the “Property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones.
  • With the signing of the Agreement by all relevant parties, and the consummation of the transactions required by the Agreement, the acquisition of Lemon Glow is now closed and final.

Jimmy Chan, CEO of Sugarmade, commented, “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market. We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.”

Trader Notes

Share Information

SHARE FLOAT (%)3,911.59 M (94.55%)

Recent Stock Performance

5-DAY PERF.+19.05%
1-MONTH PERF.-16.67%
3-MONTH PERF.-77.27%
6-MONTH PERF.+56.25%
YTD PERF.+92.31%
1-YEAR PERF.-7.41%

Moving Averages

+/- EMA(20)0.0025 (+0.00%)
+/- SMA(50)0.0030 (-16.67%)
+/- SMA(200)0.0026 (-3.85%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-95.2381SellChaikin Money Flow0.0100Neutral
MACD-0.0005SellMoney Flow Index25.0222Buy
STOCH (14,3)20.0000OverSoldSTOCH RSI0.4413Neutral
UO38.6168SellWilliams %R-80.0000Neutral

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